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Title
Ophelos uses reinforcement learning and NLP to modernize debt collection
…Decision Engine — a fully automated ML-powered outbound communication strategy. The model leverages reinforcement learning to send the best communication to each customer at the right time to help them resolve their outstanding balance. Using this model, Ophelos achieved a 25% increase in customers reaching a solut…
Description
Ophelos, a debt-collection technology company, built the Ophelos Decision Engine, a fully automated ML-powered outbound communication strategy using reinforcement learning to send the best message to each customer at the right time to help resolve their debt, on the Databricks Data + AI Platform with MLflow and Feature Store. It also built OLIVE (Ophelos Linguistic Identification of Vulnerability), an NLP model served via MLflow that scans inbound customer communications to identify people in vulnerable situations. The Decision Engine drove a 25% increase in customers resolving their debts, with 88.3% of customers self-served and 89% rating their experience 4 or 5 stars.
…f Vulnerability) to better support their customers in vulnerable circumstances. OLIVE is a natural language processing (NLP) model built and served using MLflow. It scans inbound customer communications to identify people in vulnerable situa…
Company
Ophelos
…nancial difficulty is quickly becoming one of today’s most pressing challenges. Ophelos is on a mission to transform the antiquated debt collection industry into one that’s empathetic, tech-driven, and fair for both business and consumer. Their model leverages data and AI, empowering customers with personalized solut…
Industry
Financial Services
…manage their finances. Learn more about Ophelos here . Share this post Details Industry : Financial Services Cloud : AWS Product : Delta Lake , Agent Bricks Ready to get started? Try Datab…
Problem
Debt collection agencies have traditionally employed outdated methods — such as conducting home visits, sending intimidating letters or using a rigid, one-size-fits-all communication strategy — to recover outstanding debts; these strategies are typically expensive, rarely successful in recouping payments and can hugely damage customer relations.
…n on recovering money rather than helping customers to reach the best solution. These strategies are typically expensive, rarely successful in recouping payments and can hugely damage customer relations. What’s more, creditors are often left in the dark when it comes to data and ins…
Solution
Ophelos builds scalable data pipelines on Databricks Data + AI Platform, powering the Ophelos Decision Engine, a fully automated ML-powered outbound communication strategy that uses reinforcement learning to send the best communication to each customer at the right time, and OLIVE, an NLP model built and served using MLflow that scans inbound communications to identify customers in vulnerable situations.
…cts to support their customers and clients using Databricks Data + AI Platform. At the core of Ophelos’ product is the Ophelos Decision Engine — a fully automated ML-powered outbound communication strategy. The model leverages reinforcement learning to send the best communication to ea…
Business value
Using the Decision Engine, Ophelos achieved a 25% increase in customers reaching a solution, with 88.3% of customers self-served and 89% of customers rating their experience 4 or 5 stars, alongside a 67% increase in customer satisfaction.
…each customer at the right time to help them resolve their outstanding balance. Using this model, Ophelos achieved a 25% increase in customers reaching a solution, with a reduction in the number of outbound communications sent. They found tha…
Headline outcome
…helos CUSTOMER STORY Modernizing debt collection with automation and compassion 25% Increase in customers resolving their debts 67% Increase in customer satisfaction With the UK currently facing the worst co…
Use case type
Decision support
…cts to support their customers and clients using Databricks Data + AI Platform. At the core of Ophelos’ product is the Ophelos Decision Engine — a fully automated ML-powered outbound communication strategy. The model leverages reinforcement learning to send the best communication to ea…
AI capabilities
Machine Learning, Natural Language Processing
…Decision Engine — a fully automated ML-powered outbound communication strategy. The model leverages reinforcement learning to send the best communication to each customer at the right time to help them resolve their outstanding balance. Using this model, Ophelos achieved a 25% increase in customers reaching a solut…
Business functions
Customer Service & Support
…fy people in vulnerable situations and predicts the likely causes. Jacob says, “OLIVE helps our customer support agents to prioritize those in the greatest need and alerts them that they may be dealing with a vulnerable customer. We are also able to analyze our customer base to decipher macro trends in the v…
Technology
Delta Lake, MLflow, Databricks Photon, Feature Store
…s like MLflow to easily retrain, store and manage hundreds of models every day. They also migrated all of their feature engineering to Feature Store, which has a significant impact on productivity. Jacob explains, “We’re no longer recreating features for a specific model since…
Deployment model
cloud
…more about Ophelos here . Share this post Details Industry : Financial Services Cloud : AWS Product : Delta Lake , Agent Bricks Ready to get started? Try Databricks for fr…
Deployment options
cloud
…more about Ophelos here . Share this post Details Industry : Financial Services Cloud : AWS Product : Delta Lake , Agent Bricks Ready to get started? Try Databricks for fr…
Applicable regulations
General Data Protection Regulation (GDPR)
…tabricks Data + AI Platform so they could fulfill their ML use cases with ease. Ophelos stores all of their customer and third-party data in a unified lakehouse, which allows them to accommodate GDPR regulations while supporting the organization at large with immediate analysis and quick in…
